My order that I just placed today says - New (payed). Does that mean it still has to be processed or am I good to go?
I sent payment via paypal and it shows as completed on my end.
You're good, methinks.
i placed an order about 5 days ago, i still have to pay.
if i don't pay in 7 working days i'll lose my position right?
(however, being at this level of cue doesn't make much difference

)
I think the 7 day rule only applied to the earliest pre-orders. All current orders are queued by date of payment. I don't think your order is even in the queue until you pay.